Kennedy Capital Management LLC Makes New $5.28 Million Investment in TXNM Energy, Inc. (NYSE:TXNM)

Kennedy Capital Management LLC purchased a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 107,431 shares of the company's stock, valued at approximately $5,282,000. Kennedy Capital Management LLC owned approximately 0.12% of TXNM Energy as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TXNM. Bessemer Group Inc. purchased a new position in TXNM Energy in the 4th quarter worth approximately $27,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of TXNM Energy in the fourth quarter valued at $38,000. Nomura Asset Management Co. Ltd. acquired a new position in TXNM Energy during the 4th quarter worth about $48,000. CIBC Private Wealth Group LLC purchased a new position in TXNM Energy during the 4th quarter valued at about $83,000. Finally, Quadrant Capital Group LLC acquired a new position in TXNM Energy in the 4th quarter valued at about $210,000. 91.68% of the stock is owned by institutional investors and hedge funds.

TXNM Energy Stock Performance

Shares of TXNM stock traded up $0.74 during mid-day trading on Thursday, hitting $53.31. 934,280 shares of the stock were exchanged, compared to its average volume of 1,106,982. TXNM Energy, Inc. has a 12-month low of $35.35 and a 12-month high of $55.50. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 27.77, a P/E/G ratio of 6.12 and a beta of 0.15. The stock's fifty day simple moving average is $51.69 and its two-hundred day simple moving average is $48.45.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its quarterly earnings results on Friday, February 21st. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The company had revenue of $476.96 million for the quarter, compared to analyst estimates of $496.05 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. On average, analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be given a $0.4075 dividend. This represents a $1.63 annualized dividend and a yield of 3.06%. The ex-dividend date is Friday, April 25th. TXNM Energy's dividend payout ratio (DPR) is presently 61.05%.

Wall Street Analyst Weigh In

TXNM has been the topic of several recent research reports. Evercore ISI raised shares of TXNM Energy from an "in-line" rating to an "outperform" rating and upped their target price for the stock from $51.00 to $54.00 in a research note on Tuesday, February 11th. Mizuho upgraded shares of TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 price target for the company in a research note on Tuesday, March 11th. Barclays increased their price objective on shares of TXNM Energy from $56.00 to $57.00 and gave the company an "overweight" rating in a research report on Tuesday, March 18th. Finally, Scotiabank increased their target price on TXNM Energy from $52.00 to $55.00 and gave the company a "sector perform" rating in a report on Monday, February 24th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $53.57.

TXNM Energy Company Profile

TXNM Energy, Inc, through its subsidiaries, provides electricity and electric services in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment engages in the generation, transmission, and distribution of electricity.